By Eman Goma
Al-Mal Investment Co in negotiations with authorities for Clark airport tender.
Kuwait's Al-Mal Investment Co, said it has bid for a tender to develop an airport in the Philippines, valued at about $1.2bn.
"The firm notifies that it has bid for a tender to develop Clark airport with a cost close to $1.2bn," Al-Mal said in a statement on the Kuwaiti bourse website on Sunday.
The firm, which is controlled by the family-owned conglomerate Kharafi Group, said it was still in negotiations with the concerned authorities in the Philippines. (Reuters)